The Hellenic Financial Stability Fund (HFSF) announces that, today July 10th 2013, it has uploaded on its web site (www.hfsf.odh.gr) the Relationship Framework Agreements (RFAs) between the HFSF and the four systemic banks that have received capital support from the HFSF. The RFAs differentiate between banks where HFSF fully exercises its voting rights (private sector participation less than 10%) and those where HFSF has restricted voting rights (private sector participation equal or more than 10%), as per Law 3864/2010.
These Agreements determine the relationship between each bank and the HFSF and the matters related with, amongst others, (a) the corporate governance of the Bank, (b) the development and approval of the Restructuring Plan, (c) the material obligations of the Restructuring Plan and the switch of voting rights, (d) the monitoring of the implementation of the Restructuring Plan and the Bank’s ensuing risk profile and (e) the HFSF’s consent rights.
It is noted that the Banks’ decision making bodies will continue to determine independently the Banks’ commercial strategy and policy in compliance with the Restructuring Plan and the decisions on the day-to-day operation will continue to rest with the Banks’ competent bodies and officers.
The RFAs are been published as per the provisions of the Memorandum of
Economic and Financial Policies (MEFP).
Relationship Framework Agreement between the HFSF and [Bank].
The HFSF has full voting rights/
Relationship Framework Agreement between the HFSF and [Banks].
The HFSF has restricted voting rights.